Talks underway on IMF's financial aid to Iran: official

As Reuters quoted Jihad Azour, director of the IMF’s Middle East and Central Asia Department as saying, the IMF is in talks to understand Iran’s needs and what is required for Iran’s demand to be processed.

The Central Bank of Iran has asked the International Monetary Fund (IMF) for $5 billion emergency funding to fight a coronavirus pandemic as the number of infections keeps growing in the country.

In an Instagram post in mid-March, 2020, CBI governor Abdolnaser Hemmati said he had written to the IMF’s head, Kristalina Georgieva, to stress Iran’s “right to benefit from the fund’s $50-billion Rapid Financing Instrument (RFI).”

In the letter, the official highlighted the “widespread prevalence” of the COVID-19 inside Iran and the need for the country to take measures to prevent further spread, treat the patients and counteract the economic aftermath of the disease.

“Given the size of the Islamic Republic of Iran’s quota in the fund, it calls for the use of the RFI fast financing facility of around $5 billion,” he added.

MNA/PR